Author: Legal Parivar

Quant Mutual Fund, with assets under management close to Rs 90,000 crore, has drawn attention due to its exclusive investments in 14 stocks where it stands as the sole mutual fund investor. Recently, Sebi conducted search and seizure operations at Quant’s Mumbai and Hyderabad premises, adding to the scrutiny on the fund house. As of March 2024, Quant MF’s unique holdings include Century Enka, Rossell India, Lancer Container Lines, and others, where it maintains significant stakes despite other asset management companies abstaining. For instance, in Century Enka, Quant holds 17.20 lakh shares valued at Rs 103.66 crore, comprising over 1…

Sony Pictures Networks India (SPNI) has appointed Gaurav Banerjee, formerly of Disney, as its new Managing Director and CEO, effective no later than August 26 pending regulatory approvals. Banerjee will succeed NP Singh, who will transition to the role of Non-Executive Chairman after 25 years with SPNI, the company announced. Ravi Ahuja, Chairman of Global Television Studios and President & COO of Sony Pictures Entertainment, praised NP Singh’s leadership and expressed confidence in Gaurav Banerjee’s ability to continue driving SPNI’s success with his proven track record and visionary approach. Prior to joining SPNI, Banerjee held senior roles at Disney, including…

Quant Mutual Fund, managing assets worth Rs 93,000 crore, is under scrutiny by the Securities and Exchange Board of India (SEBI) for suspected front-running practices. SEBI conducted search and seizure operations at locations in Mumbai and Hyderabad associated with Sandeep Tandon-owned Quant MF. Front-running involves intermediaries exploiting advance knowledge of large mutual fund transactions to profit from personal trades. How does front-running operate? Intermediaries execute large stock market orders on behalf of mutual funds. They may trade stocks just before a mutual fund enters the market, anticipating price movements. This practice is illegal as it uses insider information, unfairly disadvantaging…

A Groww user raised allegations of fraud after money was deducted without actual investment, prompting the platform to issue a clarification and refund the customer’s funds. Hanendra Pratap Singh, in a now-deleted social media post, accused Groww of not investing his money in a mutual fund scheme despite the deduction. He claimed Groww generated a fictitious folio number that did not exist. Singh discovered the discrepancy when attempting to redeem the investment, and screenshots of his social media post were circulated by other Twitter users. Responding to these claims, Groww acknowledged that there was an error where the customer’s dashboard…

Inox Green Energy shares experienced a decline of over five percent in early trading on June 24 following an announcement by the company’s board of directors regarding potential fundraising plans. On June 21, Inox Green Energy management disclosed through an exchange filing that they will convene a board meeting on Wednesday, June 26, to deliberate on proposals for raising funds. As of 11:15 am, Inox Green Energy shares were trading at Rs 166.3 on the BSE, marking a decrease of 2.8 percent from the previous day’s close. According to reports, the company is contemplating raising up to Rs 1,000 crore…

Between June 24 and September 30, the pre-listing shareholder lock-in period for 46 companies will be lifted, potentially releasing shares worth $11.9 billion into the secondary market. This value pertains to the lock-up shares held by pre-IPO investors, including promoters and anchor investors. However, not all these shares may be available for immediate sale, as a significant portion is held by the promoter group. These estimates, covering IPOs listed up to June 19, come from a report by Nuvama Alternative & Quantitative Research. It should be noted that lock-in periods vary for different classes of investors. Jupiter Life Line Hospitals’…

On June 24, Prime Minister Narendra Modi urged the opposition to meet the people’s expectations by prioritizing substance over slogans and upholding the dignity of democracy. In a speech during the Lok Sabha session, the Prime Minister stated, “The people of the country expect good steps from the opposition. I hope that the opposition will live up to the expectations of the common citizens of the country to maintain the dignity of democracy. People do not want drama, disturbance. People want substance, not slogans. The country needs a good opposition, a responsible opposition and I have full faith that the…

Index funds are a type of mutual fund or exchange-traded fund (ETF) that seeks to replicate the performance of a specific market index, such as the Nifty 50 or the Sensex in the context of India. Here’s a comprehensive overview of index funds: What are Index Funds? Index funds are designed to track the performance of a particular index by investing in the same stocks or securities that make up the index. The goal is to mirror the returns of the index as closely as possible, rather than trying to outperform it through active stock selection or market timing. Key…

Entities incorporated under the Companies Act, 2013 are required to submit the DIR 12 form through the Ministry of Corporate Affairs portal. This form plays a critical role in notifying the Registrar of Companies about changes such as director appointments, resignations, or alterations in key officials within the organization. The filing must be completed within 30 days from the occurrence of these events, as stipulated in Rules 8, 15, and 18 of the Companies (Appointment & Qualification of Directors) Rules, 2014, and Sections 7(1)(c), 168, and 170(2) of the Companies Act, 2013. Rule 17 of the Companies (Incorporation) Rules also…

What is Total Expense Ratio? TER in Mutual Fund: The Total Expense Ratio (TER) is the annual fee charged by mutual funds to manage investments. It encompasses various costs, including management fees, administrative expenses, marketing, and distribution costs. TER is expressed as a percentage of the fund’s average assets under management (AUM). Components of TER in Mutual Fund SEBI Regulations on TER The Securities and Exchange Board of India (SEBI) has set specific limits on TER to protect investors from excessive charges. These limits vary based on the type and size of the fund: Equity Funds: Debt Funds: Other Schemes:…